President Joe Biden - Kamala Harris Administration

[KB5252]

I’ve been on this awhile. You can’t keep doors open by building finished goods to a 95% completion. Doesn’t work.

Don't know how much stock I put into this but a national sales rep offices out of our facility, he closes millions in business for the company every month. He tells us there is some rumor about this being a larger concerted effort by the Chinese, economic warfare.

 

[RavinDave]

We reached out to Penske Truck Leasing to see what they could offer as far as ordering truck chassis, this is the response I received from the largest truck leasing company in the country.



Let's Go Brandon!

Wow

 

[W.TN.Orange Blood]

That’s basically what I’m hoping for with a pension pot sweetening bump too

With all the benefits from my old job, I was also collecting unemployed checks too.
I made so much money weekly it was almost like stealing.

 

[KB5252]

Question for you investing/economy guys. If we were looking to take money out of 401k in the next year for some home renovation would you do it now or wait it out?

 

[NorthDallas40]

Take the buyout then contract. That seems to be the norm nowadays.

Not sure I will contract right now. The money it would take to get me back I don’t think they’d pay. And once it gets painful enough to where they’d be willing to pay it I’m sure I don’t want to step back into that toxic environment and stress. Catch 22

 

[NorthDallas40]

Question for you investing/economy guys. If we were looking to take money out of 401k in the next year for some home renovation would you do it now or wait it out?

I’d say only pull 401k as an absolute last resort anyway. You lose growth even though you pay it back. What I would do is make sure I’m positioned for a downturn so as to not take the full hit on the way down and get ready for growth again as midterms approach.

 

[Vol423]

It’s already ugly on the inside to those of us dealing with it. The ugly state is just being hid from view to prevent (delay) a market implosion

That's exactly what I was thinking. It's been really ugly for many months already.

 

[allvol123]

Don't know how much stock I put into this but a national sales rep offices out of our facility, he closes millions in business for the company every month. He tells us there is some rumor about this being a larger concerted effort by the Chinese, economic warfare.

It is believable. Meanwhile our country is worried about global warming, pronouns, and every other make believe issue someone can invent. We are so screwed.

 

[Vol423]

No I’m too expensive to feed that war. It will get fed by a 25 year old new hire that they can get for half the money and you’ll like it. Sayonara bitches!

ND40, if you don't mind me asking - Approximately how old are you? Sounds like you're near retirement age.

 

[RikidyBones]

Eventually countries that suffer these economic problems will turn to the ones at fault. I wonder if China anticipates that the cross hairs will be turned to them and that's why they are prepping for war because they won't comply with the west.

 

[NorthDallas40]

ND40, if you don't mind me asking - Approximately how old are you? Sounds like you're near retirement age.

57. Will be 58 in April. But a lot of miles on the odometer in my career and they are hard miles. I wanted to retire at 55 but we built a new house so I moved that to 60. After the changes my company made to pension plans this year I moved that up to 59 or the year I will be 59 anyway. Which is Jan 2023.

I COULD work 5 more years if I wanted to easily. I don’t want to. Corporate America is a cess pool right now and I’m tired of compensating for piss poor executive office direction. Needless stress. I can leave so I’m going to that’s all

 

[MontyPython]

Praise Jebus the King of Stupidity be gone.

Carry on...

 

[Vol423]

57. Will be 58 in April. But a lot of miles on the odometer in my career and they are hard miles. I wanted to retire at 55 but we built a new house so I moved that to 60. After the changes my company made to pension plans this year I moved that up to 59 or the year I will be 59 anyway. Which is Jan 2023.

I COULD work 5 more years if I wanted to easily. I don’t want to. Corporate America is a cess pool right now and I’m tired of compensating for piss poor executive office direction. Needless stress. I can leave so I’m going to that’s all

I just turned 50 myself. I would suggest that you not close the door on consulting. You'd be surprised what companies in a pickle would be willing to pay. Consulting also reduces the stress level somewhat. You're still young enough that you might soon find that you miss parts of it, even it it's just the interaction with certain colleagues. Once you get totally out of the game for a while, it would be harder to rejoin the party.

 

[volinbham]

57. Will be 58 in April. But a lot of miles on the odometer in my career and they are hard miles. I wanted to retire at 55 but we built a new house so I moved that to 60. After the changes my company made to pension plans this year I moved that up to 59 or the year I will be 59 anyway. Which is Jan 2023.

I COULD work 5 more years if I wanted to easily. I don’t want to. Corporate America is a cess pool right now and I’m tired of compensating for piss poor executive office direction. Needless stress. I can leave so I’m going to that’s all

we're basically in the same boat - I'll be 60 when I hit the bricks.

 

[NorthDallas40]

I just turned 50 myself. I would suggest that you not close the door on consulting. You'd be surprised what companies in a pickle would be willing to pay. Consulting also reduces the stress level somewhat. You're still young enough that you might soon find that you miss parts of it, even it it's just the interaction with certain colleagues. Once you get totally out of the game for a while, it would be harder to rejoin the party.

I’m not. And I absolutely know it will be offered and I’m not burning any bridges. I just need a break to get my mind right first. All my buddies in my pay grade that retired came back part time for basically lawyer money. And I have zero desire to end what has been an amazing career in scorched earth fashion.

 

[Vol737]

SIAP...

Student loan forgiveness: Education Department erased $2 billion in debt for 30,000 borrowers

 

[NorthDallas40]

we're basically in the same boat - I'll be 60 when I hit the bricks.

Corporate America is making it a very easy decision right now. And I’d guess we actually lag your work environment a tad.

 

[Vol423]

I’m not. And I absolutely know it will be offered and I’m not burning any bridges. I just need a break to get my mind right first. All my buddies in my pay grade that retired came back part time for basically lawyer money. And I have zero desire to end what has been an amazing career in scorched earth fashion.

My father really missed the game when he retired. He still really misses the comraderie amongst colleagues. He and I talk business and investments all the time.

 

[NorthDallas40]

Praise Jebus the King of Stupidity be gone.

Carry on...

But you’re still here posting

 

[volinbham]

Question for you investing/economy guys. If we were looking to take money out of 401k in the next year for some home renovation would you do it now or wait it out?

I agree with earlier advice - use this money as last resort. A HELOC might have some interest rate risk but when you have to make payments you will be more motivated to pay it back as opposed to your 401K where you'll pay it back "when you can". As already noted you lose the growth in addition to the principal and even if you return the principal you lost that growth. The miracle of compound growth is a beautiful thing.

 

[hog88]

ND40, if you don't mind me asking - Approximately how old are you? Sounds like you're near retirement age.

Some dirt is younger than him.

 

[volinbham]

Corporate America is making it a very easy decision right now. And I’d guess we actually lag your work environment a tad.

there are no early buyouts for us but we have a stupid generous retirement program and Alabama is very friendly to retirees tax-wise. my net pension is going to be about 80% income replacement (counting the tax savings).

 

[NorthDallas40]

there are no early buyouts for us but we have a stupid generous retirement program and Alabama is very friendly to retirees tax-wise. my net pension is going to be about 80% income replacement (counting the tax savings).

Wow that is pretty damn sweet. My wife is a local municipality employee and it’s funny as hell but her annuity calc is better than mine while I make about 3x what she makes. However with a lump sum option using currently a 0% interest rate it’s a very advantageous time to pull the rip cord. Couple that sum with my 401k and it all under professional management and we will basically be at the same net money on the back end in our pocket with the house mortgage retired. We are accelerating the new house mortgage and will have it retired at 7 years ftom loan inception. That is our rip cord criteria, retire that mortgage payment. Then we both retire. And it’s somewhat arbitrary as we could retire today. But my wife doesn’t want that $2k a month payment over our heads in retirement and honestly that isn’t a battle worth having.

 

[ButchPlz]

Eventually countries that suffer these economic problems will turn to the ones at fault. I wonder if China anticipates that the cross hairs will be turned to them and that's why they are prepping for war because they won't comply with the west.

China's largest property developer is about to default. They're a paper tiger trying to bring us all down with them.

I think we are in for a lot of short term pain. If the dims don't steal 2022, hopefully we can start pulling back or at least near-shoring manufacturing and crush China out of relevance for good.

You all are talking a lot about auto manufacturing. We're getting crushed with medical supply shortages where I am. No news coverage because everyone is trying to bury it.

 

[Vol423]

there are no early buyouts for us but we have a stupid generous retirement program and Alabama is very friendly to retirees tax-wise. my net pension is going to be about 80% income replacement (counting the tax savings).

Pension - as in defined benefit pension plan? Those things still exist in the wild outside of government work?